featured

LONDON, Aug 2- Now that U.S. The challenge is that the U.S. economy is generating very little inflation- not to mention disinflation coming from China and nearly no inflation in Europe- leaving many questioning whether the Fed even should be considering a rate rise. "The pace for growth remains extremely weak by past recovery standards, but with potential growth...

WASHINGTON— The International Monetary Fund official cannot participate in another Greek bailout until Greece and its creditors make difficult decisions on economic reforms and debt relief, a fund official said Thursday. Briefing reporters on condition of anonymity, the official said Greece needs to commit to reforms and creditors must provide debt...

*Spain grows at fastest pace since before financial crisis. BERLIN, July 30- Confidence in the euro zone economy hit a four-year high in July and the European Central Bank said recovery is picking up, supported by loose monetary policy aimed at countering persistently low inflation. Spain's economy was a case in point, with data on Thursday showing it growing at...

Q2 GDP data supports view on Fed rate hike. *Greenback gains against major currencies. NEW YORK, July 30- The dollar rose to its highest level this week on Thursday as news of faster U.S. economic expansion in the second quarter supported the notion that the U.S.

NEW YORK— After starting the day broadly lower, U.S. stocks recovered nearly all of their losses by mid-afternoon Thursday and were trading near breakeven. A batch of disappointing results from Procter& Gamble, Facebook and others weighed on the market. NO SALE: Consumer products giant Procter& Gamble fell $3.20, or 4 percent, to $77.43.

MADRID, July 30- Spain's economy grew at its fastest rate since 2007 in the second quarter with more growth expected ahead, although the pace of recovery may flag as the effect of supportive cheap money and low inflation starts to wear off. Since Spain emerged from a prolonged downturn in mid-2013, economic growth has been driven by a steady rise in consumer...

SARAJEVO, Bosnia-Herzegovina— Amid the protests of thousands of workers, the Bosnian-Croat regional parliament on Thursday adopted a new labor law that aims to create a more business-friendly environment with the intention of creating jobs. Thousands of Bosnians have taken their dissatisfaction with the new law to the streets of Sarajevo, claiming it...

MOSCOW— The Russian ruble is falling under the pressure of cheaper oil, reviving concerns over the country's economic outlook, particularly the perniciously high inflation rate. The ruble was down 0.9 percent in Moscow trading on Thursday, at 59.2 rubles against the dollar. An "excessive" drop in the ruble would not be politically palatable, analysts from the...

MADRID— Spain's economy expanded by 1 percent in the second quarter compared with the previous three-month period, its best rate since before the economic crisis began in 2007.. It was Spain's eight consecutive quarterly growth figure. Spain was battered by the global financial crisis and only emerged from a double-dip recession at the end of 2013. It still...

*Europe set for busy day of data. Europe's stock markets had initially started brightly but began to fade as attention switched from company earnings from the likes of Siemens and Deutsche Bank to upcoming euro zone unemployment, business sentiment and German inflation data. Q2 gross domestic product data also due later that could reinforce the rate hike view,...

WASHINGTON— Expectations have grown that sometime this year, the Federal Reserve will raise interest rates from record lows. The only question seems to be when. Many analysts foresee the first hike in September, though Fed Chair Janet Yellen has stressed that any increase will be driven by the latest economic data.

NEW YORK, July 29- The dollar rose modestly against a basket of currencies on Wednesday as the Federal Reserve upgraded its view of the labor market, supporting some traders' opinion that it would raise benchmark U.S. interest rates, perhaps as early as September. Although inflation has remained below the Fed's 2 percent target and overseas developments...

*Corporate earnings lift U.S., European stocks. NEW YORK, July 29- Global equity markets rose on Wednesday, lifted by strong U.S. and European corporate earnings and a Federal Reserve statement that said the U.S. economy continues to strengthen, adding to expectations that an interest rate hike is getting closer. "The Fed is taking baby steps towards a rate hike," said...

*Vlieghe to retain interest in Brevan Howard hedge fund. LONDON, July 29- New Bank of England policymaker Gertjan Vlieghe will retain a financial interest in one of the world's biggest hedge fund firms while he sets interest rates, an arrangement that Britain's finance ministry said posed no conflict of interest. Some economists privately expressed surprise...

WASHINGTON— The Federal Reserve appears on track to raise interest rates later this year but signaled Wednesday that it wants to see further economic gains and higher inflation before doing so. A statement from the Fed after its latest policy meeting provided no timetable. Many analysts foresee the first hike in September, though Fed Chair Janet Yellen has...

*Vlieghe to retain interest in Brevan Howard hedge fund. LONDON, July 29- New Bank of England policymaker Gertjan Vlieghe will retain a financial interest in one of the world's biggest hedge fund firms while he sets interest rates, an arrangement which Britain's finance ministry said posed no conflict of interest. Some economists privately expressed surprise...

Greece has endured financial and political chaos since its referendum on July 5 on a bailout proposal by the country's rescue creditors. They let Greece's existing bailout expire, forcing the country to take the drastic action of shutting its banks for three weeks and putting limits on money withdrawals and transfers. The photographs here chronicle...

BERLIN— A closely-watched survey indicates German consumers remain optimistic but are showing signs of worry about the country's economic situation amid uncertainty about Greece's financial future. The GfK report says "consumers apparently assume that the hard-won solution in the debt dispute with Greece will have negative consequences on the German...